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tv   Cavuto  FOX Business  October 9, 2012 8:00pm-9:00pm EDT

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but completely silent on benghazi. i thank you for noticing. we will continue this weekend. jim wrote to say, unemployment is at the level where obama took over, would like get my $1.84 gas? we will keep looking. thank you for being with us. good night from new york. neil: when brokers get the skinny on fat cats, fat chancee3 they will be paying up from barack obama the slowdown. welcome, everybody. i am neil cavuto. if money talks, i think the financial issues can take a walk. goldman sachs is doing the opposite of what it did four years ago. i'm putting its money on hope and change in 2008, despairing no money to make a big change in 2012. this race would be putting in
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the financial crowd than the president of the united states, "the wall street journal" reports $136,000. that is down for more than a million dollars years ago. a lot of these guys don't like it and it's a big reason. it is far from the only reason. talk of a white house that doesn't like them and often vilified them. it's not helping matters any. wall street has a single digit answer. talk about a somatic turn of events. the very day that we learned of the 18-point event is done as well. four weeks of the day, americans go and vote. it is like there is this big financial that going on all abroad.
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we have charlie gasparino. charlie, first on the bolts of wall street. >> in january of this year, i wrote the story the first time. the goldman -- the question is would they ever do without face? a question that you thought they were spineless worms. neil: disingenuous. >> the journalist is catching up to the reality that i reported in fox business and others -- is that they have nowhere to go. even if they were as spineless as they are. and they probably aren't.
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they do know that when they turn around and give a lot of money to obama -- he would get nothing out of it. obama is not going to repeal dodd-frank. >> they can't be any worse off. an 18-point advantage that just disappeared? >> it's coming down to the women's vote. it is very important. neil: the vilification that they have seen of mitt romney prior to the debate, he doesn't quite
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seem that way now. in other words, he's not so bad. >> are you asking me? neil: yes. because i don't care about charlie. [laughter] >> i'm having a little trouble hearing what this you are talking about with his earpiece. i think the debate was obama's worst nightmare. and everybody knows that the women's vote is going to be very popular and not a lot of the candidates are sure how to reach out to him. >> go ahead, i'm sorry, nicole. >> they could do something radical by having one of their surrogates. which is the vp candidate, paul ryan, he could do a ladies
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night. [laughter] >> yeah, they could try that. we have secrets. [talking over each other] [talking over each other] >> i'm not one to speak for women. a lot of women that i speak you know, they have told me that this whole notion of a war against women, it was such an insult to their intelligence. mitt romney is looking to just destroy anything that women have made. neil: onto your thoughts on this. >> for his upcoming you came back across this subject. think about some of the war against women. this guy wants to take away everything that women have achieved over the last 30 or 40 years.
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on the other hand, you have a president that was one of the most striking debates i saw, was to not have his hands around basic facts and figures about the economy. people are saying in the business community is that a guy that's unconnected -- this detached could ruin another four years for the country. neil: you reminded me that things could change in politics. a week ago at this time, mitt romney couldn't win. are we to tread carefully here making statements? >> you know, here is the deal. the romney campaign is on an upsurge. fundraisers, super pac razors, everybody on the gop is going to take advantage of that. because we never know what's going to be on the flipside. we don't know what's coming around after the next debate. so everybody is taking advantage of it. yes, your answer is we are on a roll right noo and we are taking
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advantage of it and we are going to do everything that we can. we don't know. you know come the next flip back and it can be obama. this is a very volatile race and it's tight. >> there is no doubt a couple of weeks ago and it looked like he was losing -- there was no doubt that his contribution -- they were saying that we are going to divert a ton of money to house and senate candidates in that debate proves so. [talking over each other] neil: thank you both very much. coming up, goldman sachs on how to keep the economy from getting sacked. telling lawmakers how they can stimulate business and it won't cost taxpayers a dime. and if the president is getting a kick in the can, leave it to this day bring home the point. the first of what is expected to be a whole bunch of earnings fuel in what could prove an even
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bigger jolt and not a family one to the president if earnings start contracting as expected, art laffer is not expecting a great november 6, for the president of the united states. >> this is an election about economics. if the economy doesn't perform well, he has a real problem, as you can see in the debates be one but you know the numbers that we would get from corporate america, and alcoa today, even though these were better numbers than expected, they were still about numbers. we got some penguins, ironically, from china, it is the forecast we worry about, the voters responded dismal forecast on their bosses? >> i don't think that voters do, but i think that shareholders do. i think that the stock market is down a lot in anticipation of attacks with taxmaggedon and
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that would affect the market substantially. neil: what do you make of money coming in overwhelmingly. they are not hedging. >> thing that amazes me, if i can really be honest with you is why is anyone giving any money to obama? what segment of the economy is better off today than they would have been before. >> and. neil: they are not like you. a lot of them follow the guy they think will win. they even go against their own dna to throw money at at them, as they did with four years ago. they didn't want to be on the other side of the loss. >> i wonder if they are happy with what they did four years ago. did they like the outcome? neil: clearly not. >> well, i think that we are going to read that mitt romney finally has a real chance. that debate was so interesting. i heard one guy unfairly say that mitt romney, other than
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obama did even worse in his debate against clinton used one. [laughter] it is unfair saying that, but you know, obama has not been doing well and he performed very poorly and he is clearly a president who has not done any of the work himself, all the time he is federalized teleprompters and he doesn't have enough time to memorize the answers and he is out of touch with the economy and out of touch with what is happening. it is sort of sad. neil: i'm just wondering, if you're mitt romney, you get to cocky? and if you're the president, more to the point, do you completely change your strategy? you almost look like al gore with a different guy showing up for each debate. you almost can't win. >> yes, it's very tough. the president is in a tough position. -e is not well prepared. he has got to be terribly despondent. this has been a huge it to his
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ego and i don't think he is sleeping well either. he has a short period of time to catch back up, and i wouldn't be surprised and kick and aggressive stand. that takes a lot of downside if he gets angry and mad and screams and haulers. neil: you think the damage is already done? >> yes. neil: reagan and carter only had one debate. it wasn't that carter had a chance come back. there was no opportunity. >> i don't think there is much of a chance of obama coming back. i think we are probably going to keep the house for sure now, neil, and i think there is a slim chance. and who knows, mitt romney might even win the presidency. neil: leading by three points in massachusetts. hope springs eternal. thank you, my friend.
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neil: paul ryan and joe biden are ready to go at it. we will be all over that. remember, we go through thenighn happen, anybody can stop by. meanwhile, big bird and big problems, dennis the menace part two. the obama ad that has one dennis matt. vary. nearly 1 billion people around the world don't have enough food to survive.
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>> the evil genius that towered over them? one man has the guts to speak
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his name. >> it's big bird. >> it's me, big bird. >> big and yellow and a menace to our economy. mitt romney knows it's not wall street have to worry about, it's sesame street. neil: this new advertisement mocking mitt romney. i know big bird, my children grew up with a bird. even now, i have watched big bird with my grandchildren. in my opinion, our president should focus his attention on turning around the economy and creating much needed jobs and leaving me in big bird alone. >> yeah, fired from the ratings debate. neil: would he make of all this?
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>> starts off with president obama saying i approve this ad and it turns into a jimmy kimmel sort of thing. the campaign messages melding with comedy television. >> but what i'm saying is that they can't -- they get stopped by the facts. every time the obama administration tries to attack him, this 5 trillion-dollar thing, which has now been denied by the people that obama said saturday. princeton university professor who they say claimed it would cost $5 trillion. >> i never said any such thing. he can't focus on the facts. so, of course, they can't focus on the facts and they pulling these numbers. what it comes down to is, it's interesting on that issue all these crooks and then they show romney, and they are doing it as guilt by association.
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neil: we knew what he was saying in a lighthearted sense. >> you almost look tone deaf doing that. >> do not have talked about it before. the fact is that they tried to make ronald reagan look like the devil. that he was going to start a war, that the economy would be even worse. when the people saw him in that debate, they said oh, i don't believe what these guys are saying about him. he seems to be a nice, reasonable guy who is making a clear statement based on what appeared to be the facts. and all the charges made against him don't seem to be true. neil: this is not a one-shot deal. jimmy carter didn't get a chance for another debate. folks were of the notion that he was a little serious. there are a couple of more debates. one for the vice president. there is time for them to make up ground to the argument. >> if the president can prove
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that the fact that he comes out with when he speaks among his friends, which i don't think he can. again, even the people that they say verify the facts are saying that the facts are being misused. >> where is mitt romney coming from? >> i think the independent. >> i have another crazy point. i think people who give lukewarm support for the president because they didn't trust what they were hearing fewer point about the alternative, they don't think he's that awful and they are going him. >> the one thing that mitt romney seldom have is a big chunk of the democrats. who knows whether the polls are true. if you give them any kind of credence at all, he said only about 3% of the registered democrats are going even after thh debate with reagan, of course, got that whole horde of reagan democrats. it might happen. the election is still a ways away. it might happen. but at the very least, he does
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have a much bigger percentage of independents than he did before. i want to get back to this advertisement. it really is the epitome of class warfare. saying that capitalism is just about crooks and bad guys. and romney is one of them. the america -- they have tried this before in the american public didn't buy before, the associated all the class warfare with the occupy movement. all of the socialist and marxist involved in that. so that didn't work. if they are trying to get the independent voters, this may work with their base come but it's not going to work with independents and those are precisely the people that somehow obama has to get back in his corner. this is not going to do it. neil: you are very scary smart. it is like wicked. >> thank you very much. by the way, what is german for showing some guts? when a german chancellor decides to kick some athens, greece in
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athens, greece. i can assure you no good not at all. that is later. but first, how romney stays on a roll. this transition is all about reminding americans how much more so barack obama's costume right now
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neil: this just in, 10% more. the urban institute warning that is how much midsize companies will be paying at the present health care law is passing this
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year. well, it is sort of like the information we have been given about a coming into close he was right. the more we discover it and maybe regret it. premiums going up, and now likely for midsize businesses from going up a lot. we think of this? >> there is little question that we will see substantial increases in the cost of health insurance driven by many of the regulations that were put together. we are seeing tuitions going up for college students because of policies that have been implemented. we are seeing 23 million unemployed people and many others have just given up hope because of the president's policies. >> you know, even being an objective reader, from the perspective of a patient, most
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patients are neither left nor right. when you go see the doctor, you are desperate or inclined to hope that the doctor, regardless of political persuasion, says i hope you're all republicans today. but to that point, the doctor's office is more crowded, your insurance premiums have gone up. those who are uninsured who now are insured, we are the only ones happy. everyone was happy. >> well, i think that governor romney has made it very clear point of the fact that one of the things that obamacare did take more than $750 billion on medicare. the reason that that is a problem is because now doctors and hospitals and others that we count on for access are indicating that they are not going to be prepared to treat new medicare read medicaid patients. neil: but michael, you and i have chatted about this before. believe me, i could have told
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you that before the law fully kicks in, if you are asking insurance companies cover pre-existing conditions, to have your kids on the policy, they're going to charge more for that. you may not like it, you might not ultimate, but they will charge you more to the the privilege of including them. i don't know what the shock is on the part of the administration and others to do just that. >> actually, it is not as one of those. it is the combination and the way it was constructed. the whole thing was designed in ways that if you give consumers access to good information and transparency can they make good decisions for themselves. that doesn't mean that we don't need government, we do, we don't
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need as much of it, and we can't afford the remarkably large subsidies that obamacare created in a deficit. neil: is it fair to say that should he be elected president for weeks from now? >> he has made clear he will repeal obamacare. for whatever reason, that's not possible on a legislative basis, then he will begin minimizing the negative impacts that obamacare is clearly having on those who have to acquire health care, which is all of us. neil: pilates or if you have the republican senator structure that process? >> indeed. neil: senator cummins was a pleasure. >> thank you, neil be one remember when they were raking bullied over the coals by serving up remember how he looked?
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i think the shirt out of. >> today
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neil: have time. lloyd boeing plant ready to the throttle. showing who is the boss. forget about blaming that cats. you fix the the fiscal mess or ttere goes this country. i am exaggerating a bit, but make no mistake about what the wall street titans says must be done and done now. the only way to stimulate america is for leaders to get a clue nd start hammering out a long-term budget deal that at least shows progress from erica. investors and non investors alike, something to look forward to in america.
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at the very least slowing down. we could do worse. take a look around. west virginia congress want. now the question becomes whether you guys do a thing. >> that is a big question. a lot of it will depend on what happens in the election. what kind of spy and they want to have. the order. very low expectations. he always wants to douse expectations. that's what he's doing.
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going to fix the fiscal clef and to tax reform at the same time. >> here is what i could see happening. some of your colleagues have mentioned this. you punt for six months. you delay the tough decisions, whether barack obama as read elected or mitt romney is for next year. >> i think their is a high likelihood that we extend the tax relief. this tax -- well, -- neil: the bush rates for everyone. i do believe that what happened. >> he bought it last year. neil: yap. no way now. >> we need him to lead, we don't need them to throw cold water on what could be i think the something where we do get together. the best time to get together is presidential election. i think there will be a bigger appetite for it.
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neil: an appetite for the more conservative members of your party? closing loopholes. not a tax hike. pan more taxes. there might be an appetite on the part of your democratic colleagues. in other words, after the elections dogmatic bygones are bygones. if you look at that looming debt and deficit, as far as the eye can see, i think we all realize that in negotiated settlement is going to have to be reached. we have a spending problem in washington. we are cutting as much an even more bad, but at some point i think we are going to realize that the revenues are going to need to us match the -- to come up a bid to match -- neil: some revenues and taxes in that equation. >> of eliminating some of the loopholes and special interests were government is forging the
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behavior and punishing bad behavior, is that we want to do? no. i think we can simplify and make it fair. by that we would give greater revenues. >> it sounds like it does commission point of view. enough of us know we have to pony up and get over ourselves and so the big problems. neil: whenever you do or a lame-duck session does, we won't be here december 301st. >> is heavily hope not. i think that leads -- we already have uncertainty. this brings more. lack of faith. possible downgrade. i don't think we consummate that and i don't think we should. we at least but to next year and figure out tax reform and a larger sense and deal with the debt and deficit and the entitlement. neil: bunting is better than nothing. to that point in the covers woman's good point i will be live in washington for a special
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edition. we have been looking at this to the congresswoman's point ife they do nothing unless it is a catastrophe. in the middle of this very heated election this is the other trauma. after this thing is settled this is the thing that is front and center. meanwhile, firms greek still treats. riding over big cuts. but the top member of the deficit commission says, unless we cut we could send be looking at maybe even worse year. next.
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neil: the leader, right now the world's greatest in the country that everyone seems to agree is not the world's greatest by far. the german chancellor, showing
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their anger. protesting against too much disparity and what they think is all at the hands of the germans. looked at our books. at the rate were going i don't think it can. seems to think that the way we avoid the fiscal clifford ross talked about. a six month expansion and everything for a new president are reelected president to deal with. >> it can't be just taking it doon the road for six months. a lame-duck session has got to do to other things. one is put in place of planned that would issue instructions to the regular committees of congress.
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within six months. give them some numbers to shoot for. have a default position it would cover into effect automatically if the congress did not succeed. a little more of a longevity. the first two parts are really important. you can't just take it down the road. think what the market reactions would be if we just take it down the road. we've done that before. neil: which makes me consider what you're talking about now -- hopes springs eternal that this would be a different time frame. if you think about these automatic sequestration cuts
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this is what they agreed to as a fallbbck. they did not have the spine. now what they are effectively saying, let's push the spine back six months. you hope that in the meantime they do something, but history suggests invariably they do not. >> that is why i haven't a fallback position that actually solve the problem. a more attractive option than a fallback position which gives you a fizzle clifford nobody wants to go over. i think it will be quite disastrous for the near-term economy. apparently to cover would partly be back in recession. that is not what we ought to do. the congresswoman had it right. we need to focus on the long-term.
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bring us together retire gradually. neil: the first debate between the candidates, the argument that mitt romney made for his aggressive 20 percent tax cuts across the board is there were not $5 trillion. when you phase out a lot of exemptions and deductions it woold be a lot -- okay. that think we lost there. we have lost there. is it really 5 trillion? here rid of exemptions and specific breaks. something that will probably come up in the vice-presidential debate. might be a wash. revenue neutral. we shall see. my apologies. in the meantime, safety regulators miss the deadly damage done because they were regulating it too much other stuff that was not. ♪
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♪ neil: all right. first off, we don't do that deliberately. this satellite thing, the crash and go down. we have no control over that. honest. we hope to bring her back tomorrow. certainly within or throughout the debate covers a we are planniig. see is a great guest apologies to her and to you, but we plan to get her back. in the meantime, out of control 13,000 could be at risk. more than 100 cases of meningitis reported in at least 11 deaths. an outbreak the come regulators
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by surprise because there were issuing regulations. instead of splitting the rules that count we are getting lost in this silly ones that don't. two former bush 43 white house aide and a reason magazine's senior editor, explain. >> well, i think that president obama has had a problem with perris. his entire presidency has been about hollywood, with the catchy phrases are, what will give him the attention, the, you know, the byline. unfortunately these really serious issues, the things that affect americans and affect them in a way that is very important, he does not like getting into that, the details. he just wants the star power. neil: in not laming the meningitis outbreak on him. >> to a certain point i am because he has a problem. neil: these kind of things happen under republican and democratic. just the sheer weight of regulation. >> i think so.
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we have seen problem after problem of serious issue because he does not want to deal with them.3 neil: peter. >> what i would say is that there is always an incentive for any bureaucracy, any bureaucrat to try and do more. when bureaucrats try and do more they end up being less effective the at the things they're supposed to be doing. i think we sight in the bush administration in a surly think we have done in the obama administration. a significant increase in regulation the first couple of years of the obama administration. aid is adding on, piling on. and what happens is they miss the forest for the trees because they are not very good at prioritization. what the end up doing is focusing on every little detail rather than on setting the rules of the road for markets to work. neil: mitt romney. you talk about how they're is a need for regulation. don't go into overkill on this.
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you could buy extension in the killing people. but i was realizing that a number of health regulators were looking into things like the distance food carts in manhattan from the streets curve. >> showed it to the soda is. >> my point is they get caught up in silly stuff. stuff like this i would imagine is a touch more important. >> that as well as trying to say. the catchy thing, the interesting thing. i think he should just go to hollywood. he really likes to be entertaining and find out -- find out what people find interesting. mitt romney, he showed that at the last debate. very much into detailed, very much into being a good manager. these are things he is going to take a look at. we know things are going to be organized, but he will get the job done and make sure these crazy things are happening. he bucket the important work done.
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neil: the rap against mitt romney is that he might just keep a lot of the regulation that a lot of folks don't like. he my slow that process down, but even on the republican presidents, reagan or george bush senior engineer, they invariably leave office with more regulations. >> i don't think you have to make this a partisan issue. when it comes to mitt romney in particular he should not have done what he did, but that he should have done it better. if you look at what mitt romney said about tart, what he really set a lot of cases is romney would have done better than obama has, but in the case of the health and safety regulations will we be generally are not more regulations, not stronger regulations, but more efficient and effective
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regulations. caught up in a lot of silly stuff. food trucks and a regulating things like in obamacare there is a provision that suggests that the health and human services secretary should take a look at standardizing a lot of menu items. this kind of thing goes on. they get really caught up in the details. neil: a hand in it. scary how unbelievable. we have heavy handedness with obamacare. it's killing jobs. it will cost millions of dollars. irs agents on our doorstep ready to regulate. if you're not paying for insurance what are they going to do? irs. >> people asking for more regulations. neil: i understand what you're saying. you'd think the opposite happens? >> with mitt romney.
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that is his managerial and no nonsense. neil: got you. thank you both very, very much. meanwhile, the recovery is real. growing doubts are even more real. the real problem for us, bigger problem for the guy leading yesc we'll explain. ap olaf's pizza palace gets the most rewards of any small business crit card! pizza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, everday! helium delivery. put it on my ark card! [ pop! ] [ garth ] why settle for less? great businesses deserve the most rewards! awesome!!! [ male announcer ] the spark busiss card from capitalne. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet?
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>> i am amazed. the negative guy who shockingly never gets the promotion. who goes to the smart friend who does. we're defined by how we think as we do. how we think determines what we do. if we are optimistic we tend to do more. it is nothing profound but it gets back to the essence of our problems in this supposedly recovery. we're not buying it. those suit are, are not buying like crazy to celebrate. the definition of fear and greed. some are afraid and about greedy. there are few souls that will make big bets to pan out later.
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real-estate investors that will look brilliant if it is right or stupid if they are wrong. but so few are venturing into more are hoarding their cash and holding the expansion plans tighter. the corporate cash that is still sitting on the sidelines and the eager home buyers are sitting on the fed's. the recovery is happening. but not enough to convince americans they should be buying. they sit if there is a president dead even in the polls that one week ago was considered lucifer. now growing doubts about president who is not delivering the goods

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